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Which one has launched its mobile app and e-portal to provide digital personal loan in august 2022?
A)
Indel Money Ltd
B)
Bajaj Finserv
C)
Muthoot Finance Ltd
D)
Manappuram Finance Limited

Correct Answer :   Indel Money Ltd


Indel Money Limited, the gold loan NBFC, has launched on its mobile app and e-portal a digital personal loan. Initially offered for its existing customers, the service will be completely digitised with faster loan disbursement experience.
 
The roll-out of the digital personal loan marks its foray into the personal loan segment. In the initial phase, it plans to leverage the existing customer base and would gradually open this space for others across varied income segments.
 
This exercise is part of Indel Money’s ongoing digital transformation drive. The company, in the recent past, had launched online gold loan facility in select markets.
 
The loan would be sanctioned based on the average transaction value in the previous 12 months. The rate of interest will be 10-20 per cent based on the individual credit score. The repayment tenure is in the bracket of 3-6 months.
 
The NBFC has launched this product across 225 branches based in Kerala, Karnataka, Tamil Nadu, Andhra Pradesh, Telangana and Odisha.
 
Umesh Mohanan, Executive Director and CEO, Indel Money said, “With the launch of our digital personal loan, our near-term goal is to tap the underserved demand for immediate cash among our existing customers to help fulfil their commitments and exigencies..

Source : The Hindu Businessline

Published On : August 18, 2022
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